Flags of Convenience:
The largest shipping registries are Panama, Liberia, Greece, Marshall Islands and the Bahamas,
Approximately 6,300 sail under the Panamanian flag, making Panama the largest. The Greek-controlled fleet is at almost 90 million gross tons.
The Marshall Islands is fourth with 1, 500 vessels and 37 million tons. Bahamas has 1,500 vessels at 27 million tons.
Other significant flags include Cyprus and Malta

23.10.13

Russia has dropped piracy charges against 30 Greenpeace activists, replacing them with hooliganism charges, according to officials.

The new charge has a maximum penalty of seven years rather than 15. Greenpeace says it is still "wildly disproportionate".

[September 27]

On Sept. 26 and 27, a Murmansk court arrested them for two months on suspicion of piracy.

The court said Denis Sinyakov, a photographer who formerly worked for the Reuters news agency, was a flight risk as he had frequently travelled abroad. He was remanded in custody for two months, and led out of the courtroom wearing handcuffs. Roman Dolgov, a marine pollution expert from Greenpeace, was also denied bail, so was Canadian Paul Ruzycki.

Decisions in the cases of other foreign activists on board the ship, who come from 18 different countries,came September 27.

27.9.13

The Deepwater Horizon disaster could have a lasting impact on the Gulf of Mexico, according to a new paper suggesting that the region’s deep-sea soft-sediment ecosystem could take decades to recover from the 2010 oil spill.The authors claim provides comprehensive results on the spill’s effect on deep-water communities at the base of the Gulf’s food chain for the first time.The spill resulted from an explosion on board the Deepwater Horizon oil rig that occurred on April 20, 2010, and resulted in a total of 4.9 million barrels (205.8 million gallons) of crude in what went on to become the largest offshore oil spill in US history.

BP’s internal records for the
Macondo project conflicted with numbers sent to drilling regulators and
established a pattern of “consistent misreporting” of well pressures, Alan
Huffman, a Houston-based petroleum geophysicist, testified for the U.S.
government in a trial over claims tied to the 2010 Gulf spill. The fudged
numbers allowed BP to continue drilling for oil, he said.

The oil company created “a very misleading impression” about the
well’s safety conditions and engaged in drilling operations that “I’ve never
seen an operator do,” Huffman told a judge February 27 in New Orleans.

After hearing evidence in the
trial, U.S. District Judge Carl Barbier in New Orleans will decide who is
liable for damages tied to the largest offshore spill in U.S. history and
whether BP,Transocean
Ltd. (RIG)or other companies that worked on the project
were grossly negligent in their handling of the rig and well. His ruling in the
nonjury trial on that issue will affect how much each company may have to pay.

[January 14]

Agreement Reached with U.S. Department of Justice on Deepwater Horizon Claims
ZUG, SWITZERLAND-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that it has reached an agreement with the U.S. Department of Justice to resolve certain outstanding civil and potential criminal claims against the company arising from the April 20, 2010, accident involving the Deepwater Horizon in the Gulf of Mexico.

As part of this resolution, a Transocean subsidiary has agreed to plead guilty to one misdemeanor violation of the Clean Water Act (CWA) for negligent discharge of oil into the Gulf of Mexico and pay $1.4 billion in fines, recoveries and penalties, excluding interest. This resolution will result in the Department of Justice concluding its criminal investigation of Transocean and settling its claims for civil penalties against the company relating to the spill from BP's Macondo well. The company intends to satisfy its payment obligations over a period of five years, using cash on hand and cash flow from operations. At September 30, 2012, Transocean had accrued an estimated loss contingency of $1.5 billion associated with claims made by the Department of Justice.

Marshall Islands Registry in the hot seat: "The Deepwater Horizon oil rig that exploded in the Gulf of Mexico was built in South Korea. It was operated by a Swiss company under contract to a British oil firm. Primary responsibility for safety and other inspections rested not with the U.S. government but with the Republic of the Marshall Islands — a tiny, impoverished nation in the Pacific Ocean." full storyGuardian

BP’s single largest shareholder is the sprawling asset management firm BlackRock, based in New York City, which owned the equivalent of more than one billion shares of BP stock just two weeks before the Deepwater Horizon blowout, according to the financial analysis firm Capital IQ. (Bank of America owns a 34.1 percent stake in BlackRock.)

The second-largest American owner, and third largest over all, is State Street Global Advisors, based in Boston, with 307 million shares. After them are the mutual fund firm Capital Research and Management Company of Los Angeles, with 247 million shares, and the Vanguard Group, based in Malvern, Pa., with 140 million shares. Rounding out the top five is Franklin Resources of San Mateo, Calif., another publicly owned asset management firm, with 131 million shares.

More familiar names crop up further down the list, like Fidelity Investments, with 124 million shares; T. Rowe Price Group, with 93 million shares; and State Farm Insurance, with 79 million shares.

Then there are the banks: as of March 31, JPMorgan Chase held a respectable 76 million shares; Bank of America, 69 million shares; and Goldman Sachs, 42 million shares.

The Bill & Melinda Gates Foundation is another a major investor, with nearly 43 million shares.

26.9.13

A salvage operation to remove the wreck of drilling rig Perro Negro 6, operated by Italian oil services group Saipem, will get underway once Saipem picks a contractor following a recent tender.The timing (of the removal) is depending on the offer that will be presented by the winner of the tender.On July 1, the rig capsized as it was laying a pipeline linking Chevron's Block 0 and 14 with the liquefaction plant.The disaster claimed one fatality and has for the time being cut off supplies from the Chevron-operated blocks, which were to be tied to the plant next year, supplying up to 170 million cubic feet of gas per day initially.

[July 4]

San Donato Milanese (Milan), July 2, 2013– Saipem informs that last night, July 1, the jack up drilling rig Perro Negro 6, due to the collapsing of the seabed under one of the three legs, suddenly tilted and suffered hull damages, causing water intake. The event occurred during the rig positioning on location prior to starting drilling operations, between the coasts of Angola and the Democratic Republic of Congo, near the mouth of the Congo River, in approximately 40 metres of water.

At 10.30 AM CEST, the rig, with no personnel on-board, capsized and sank.

The emergency procedures were promptly activated last night to ensure the evacuation of the personnel on-board. After the sudden and significant tilting, among the 103 crew members, one was recorded missing and another six incurred minor injuries.

20.8.13

KKR has created a finance company to supply credit to maritime borrowers, including offshore oilfield services and traditional shipping companies, as the buyout group seeks to build a presence in maritime finance. Maritime Finance will initially be capitalized with $580 million of equity, over 45% of which has been provided by KKR, including through its balance sheet, KKR Financial Holdings LLC (NYSE: KFN) and MerchCap Solutions ("MCS"), KKR's recently established mid-market focused merchant banking venture with CPPIB and Stone Point Capital. The balance of the capital was arranged by MCS and included participation from various family offices, mutual funds, hedge funds and specialist financial services investors. Proceeds will be used by the Company to fund its establishment and operation, provide capital for newly originated maritime financings and potentially acquire a seed portfolio of outstanding loans.

25.7.13

Det Norske Veritas has won a bid to provide environmental and emergency preparedness risk analysis for Statoil’s Johan Castberg project in the Barents Sea . Statoil got the go-ahead from Oslo to drill the first exploration well in one of its Barents Sea licenses . Meanwhile the company is reportedly kicking off seismic studies in the Sea of Okhotsk in cooperation with Rosneft (Upstream).The drilling rig Scarabeo 8 appeared overnight Monday this week off Ersvika near Hammerfest, the first time a rig has visited Hammerfest in 32 years. The rig is taking advantage of the area’s sheltered waters to perform some tricky refitting The Castberg project, which may hold as much as 600 million barrels of recoverable crude, has helped rekindle interest in the Barents Sea after a decade of disappointing results.Statoil, based in Stavanger, is the operator of the field and has a 50 percent stake. Italy’s Eni SpA has 30 percent, and Petoro AS, which manages Norway’s direct stakes in its oil and gas fields, holds 20 percent. Statoil had originally planned to submit a plan for development and operation to the government for approval next year before starting production in 2018.Norway remains committed to developing the waters off its northern coast and expects “a lot of licensing” in the Barents Sea when the results of the 22nd licensing round are announced “in the near future” . The government will consider regional support for oil and gas activities if needed, as was done with the development of the Snohvit gas field off the coast of Hammerfest.

23.7.13

Transocean’s Deepwater Millennium is performing an accelerated well testing program that includes installing observation gauges and conducting several drill stem tests for Anadarko’s natural gas wells offshore Mozambique.

Anadarko Petroleum Corporation reported July 18 that it has discovered a new natural gas accumulation within Offshore Area 1 of the Rovuma Basin, offshore Mozambique.
The Orca-1 discovery well encountered approximately 190 net feet of natural gas pay in a Paleocene fan system.

Videocon Industries has sold off to ONGC Videsh and Oil India (OIL) for $2.48 billion (Rs 14,880 crore) its 10 per cent interest in the prolific oil and gas offshore block in Mozambique’s Rovuma basin. The deal is expected to help Videocon reduce its huge debt and provide a piece of pie to the two Indian oil and gas explorers chasing resources abroad.

ONGC Videsh, the wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC), and OIL expect to implement the acquisition through a newly incorporated entity in which OVL would hold 60 per cent stake while OIL would have 40 per cent stake by the end of this financial year.

The largest deal of the quarter involved ONGC and Oil India, who acquired a 10% stake in the 100+ tcf gas discovery offshore Mozambique in the Rovuma basin for $2.5 billion from Videocon Industries. The $0.50 cost per recoverable mcf of gas reserves would usually represent good value but commercialization of the asset is at least five years away and will require large upfront payments to develop the field and construct the necessary LNG exporting terminal which would have made this field fall short of many public companies’ investment appraisals. The deal follows the acquisition of Cove Energy at the end of 2012 when another national oil company, PTT, keen to gain control of the company’s flagship asset of an 8.5% interest in the Rovuma Offshore Area 1, paid $2.2 billion.

2.7.13

China's defence ministry said on July 2 that its navy would send four destroyers, two guided missile frigates and a support ship for exercises with the Russian navy, which start on Friday in the Sea of Japan and run until 12 July.

Cyprus has made its ports available to the Russian fleet. "Cyprus is facilitating the navy of various countries, including the US, France, Germany and Israel." here

Cypriot media have reported that the government may allow Russia to use its base at Paphos to host military aircraft.

Russia has evacuated the last of its personnel from Syria, including from its Mediterranean naval base in Tartus, in a move that appears to underline Moscow's mounting concerns about the escalating crisis.

Russian media reported on June 26 that they had confirmed the evacuation with officials in the country's military and foreign ministry.

The effective closure of the Tartus base would be a significant loss, though a 16-ship naval task force is still in the eastern Mediterranean. The base is Russia's only foothold in the Middle East.

Mikhail Bogdanov, the deputy foreign minister, said, "Today, the Russian defence ministry does not have a single person in Syria," he said. He described Tartus as a "technical facility for maintaining ships sailing in the Mediterranean."

[March 24]

Moscow wants presence comparable with Germany in Cyprus . Claims seem to include the use of Cyprus for
military purposes. As part of their
action in UNIFIL (United Nations Interim Force in Lebanon), the Germans have a
bilateral agreement with the Republic of Cyprus, under which they can anchor in
Limassol to Paphos anduse land of the Republic, for operational
reasons, such as exercises. here

[March 22]

"The talks have ended as far as the Russian side is concerned," Russian Finance Minister Anton Siluanov.[March 20]As Cyprus tries to play Russia
off against Europe to salvage its economy, It is likely the Russians will ask for some form of compensation for
such an investment and Cyprus might even offer the Kremlin an alternative Mediterranean port
should ally Bashar al-Assad lose his civil war.. Russia
is setting up a structure to monitor operation of its military ships in the
Mediterranean sea, according to Defence Minister Sergei Shoigu who said March
11 that Russia's navy are returning to the region "for long and with
serious purposes".

Barred from NATO by a
Turkish veto, the island was officially "unaligned" during the Cold
War but has shown little appetite to be a direct Russian satellite.

Many western states have
used the island as a logistics hub to support operations in Iraq and Afghanistan. Former colonial power Britain retains two
sovereign bases there but refrained from using them for air strikes on Libya in
2011 out of sensitivity to Cypriot opposition

A bailout from Moscow
might solve the immediate banking crisis but greater Russian sway over Cypriot
banks could scare off their Russian clients. Many moved money to Cyprus
precisely to avoid unreliable Russian banks, rapacious tax officials and the
reach of the Russian state itself.

[August 29 2012]

Tartus Naval Base

A Russian naval task force has successfully completed its protracted mission in the Atlantic, Navy spokesman said on August 29.

He added that the large anti-submarine ships Alexander Otrakovsky, Georgy Pobedonosets and Kondopoga had already returned to the port of Severomorsk.

[August 24]A Russian task force consisting of ships from three fleets (the Northern, Baltic and Black Sea fleets) has suddenly fallen apart, and the General Staff changed its plans for Northern Fleet vessels to stop off in the Black Sea. Russia deliberately withdrew practically its entire military grouping from the Mediterranean, thereby altering the initial aim of the Caucasus-2012 drills, during which three large landing ships were to have called in at Novorossiisk on August 11-12.

Following the drills, the warships could have continued their tour of duty in the Mediterranean. But the plans were changed. Large NATO naval task forces are concentrated off Syrian coasts while the Russian grouping looks like a dwarf. “We will be unable to keep our facility in Tartus by military means,” a Defense Ministry source said. “We cannot, by military means, oppose countries that support the Syrian opposition,”.

He also denied reports that the staff of the Russian base had been evacuated due to the aggravation of the situation in western Syria. But he would not comment on reports that the naval facility in Syria would not provide supplies to Russian warships.

Yaroslav Mudry

[August 19]The large amphibious landing ships Alexander Ostrovsky, Georgy Pobedonosets, and Kondopoga will leave for the Atlantic after resupply [at Tartus?]. Baltic Fleet frigates Yaroslav Mudry and Neustrashimy will remain in the Mediterranean and undertake exercises related to prevention of illegal arms trafficking and anti-terrorism.[August 11]The Russian Defense Minister states that "contrary to media reports", the task force will not call at the Russian supply and maintenance facility at the Syrian port of Tartus. The Russian task force is comprised of three large amphibious assault ships, two Neustrashimy class frigates, an Udaloy class destroyer and two support ships from Russia's Northern, Baltic and Black Sea Fleets. "In the past two days the task force held tactical exercises which included firing drills involving on-board artillery and missile systems," the ministry said on Friday, quoted by RIA Novosti. The warships will head to the Russian naval base of Novorossiisk after additional training in the central part of the Mediterranean later in August 2012. read

[August 3]Russia’s three warships do not plan to stop at Syria port of Tartus, but may do so if they need to resupply, The ships – Aleksandr Otrakovsky, Georgy Pobedonosets and Kondopogaeac – carry about 120 troops each, along with weapons and amphibious armored vehicles.[Earlier]Russia's Defense Ministry denied on August 3 that it plans to send naval vessels to the Syrian port of Tartus, the state-owned RIA news agency said.It dismissed reports, attributed by Russian news agencies to a source in the general staff, that Moscow was sending three large landing ships with marines aboard [Earlier].Russia is sending three warships carrying some 360 marines total to the Syrian port of Tartus and are expected to arrive at the port within days to deliver food and supplies to a Russian naval base there.[August 2] David Cameron welcomed Vladimir Putin, the Russian president, visiting the UK for the first time in seven years, and discussed the situation in Syria,among other subjects.

[July 25]A Russian naval flotilla of warships destined for the Syrian port of Tartus has entered the Mediterranean, Russia's defense ministry said July 25.

"The Russian ships today passed the Strait of Gibraltar and entered the Mediterranean at 1200 GMT," said a defence ministry spokesman, quoted by Itar-Tass agency.

Led by the Admiral Chabanenko anti-submarine destroyer, the three landing craft left their home port of Severomorsk in the Arctic Circle earlier this month. They are due to be joined in the Mediterranean by the Russian patrol ship Yaroslav Mudry as well as an assistance vessel.

The ships will perform "planned military manoeuvres", said the ministry. Earlier in the month a military source said the ships would be topping up on supplies of fuel, water and foodstuffs.

Russia has denied that the deployment is linked to the escalating conflict in Syria.

Admiral Chernenko

Alexander Otrakovsky

K-433 St. George the Victor

SDK-182 “Kondopoga " Ropucha Class Landing Ship

Sergey Osipov

Nikolai Chiker

RUSSIAN NAVY warships docked at Limassol Cyprus over the weekend for the first time in at least ten years. The Russian frigate Smetlivy docked at Limassol port on July 15 at 9.30am to re-supply with food and water and rest its crew before heading off in the afternoon at 5.30pm. , a Russian tug boat Shakhter also docked at Limassol port at 7.56am and is due to leave july 16. A spokesman for the U.S. National Security Council said July 10 that the United States has "no reason to believe this move is anything out of the ordinary. "

[July 14]Russian observers made a list of ships which may soon be found in Syrian waters.Large attack landing ships:Georgiy Pobedonosets with carrying capacity of 500 tons of military cargo and equipment, and 225 troops;Alexander Otrakovskiy with carrying capacity of 500 tons of military cargo and equipment, and 225 troops;Kondopoga with carrying capacity of 500 tons of military cargo and equipment, and 225 troops;Tsezar Kunikov with carrying capacity of 500 tons of military cargo and equipment, and 225 troops;Nikolay Filchenkov with carrying capacity of 47 battle vehicles and 440 trrops;Other ships:Destroyer Admiral Chabanenko;Destroyer Smetliviy;Destroyer Admiral Panteleyev;Destroyer Vice-admiral Kulakov;Frigate Yaroslav Mudriy;Auxiliary Naval ships:Naval tankers Sergey Osipov, Lena, Boris Butoma and Ivan Bubnov;4 naval salvage tugs.

[July 12]“Alaed” is, July 12, sailing southbound along the coast of northern Norway after she left Murmansk on July 10.."MV Alead” has reported that her port of destination this time is Baltiysk in the Russian Baltic enclave of Kalinigrad. A flotilla of four Russian warships are sailing in the same direction some 50 nm north of "Alaed." The vessel, carrying arms for Syria, is now on its way south after she had to return to Murmansk in late June to be refitted with Russian flag. The Defense Ministry said on July 10 a Russian naval task force was on its way to carry out naval exercises in the Atlantic, Mediterranean and Black Seas.The task force comprises warships from Russia’s Northern, Baltic and Black Sea Fleets, "In order to develop training and combat missions from the base of Severomorsk got a group of ships in the BOD" Admiral Chabanenko ", large amphibious ship" Alexander Otrakovsky, K-433 St. George the Victor , a Delta III class nuclear-powered submarine SSBN. and SDK-182 “Kondopoga " Ropucha Class Landing Ship. . "The ships assigned to court security," Nikolai Chiker "and" Sergey Osipov . "The ships headed for the North Atlantic," - and will join a detachment of ships in the Baltic Fleet patrol "Yaroslav the Wise" and tanker "Lena." more

25.6.13

Mr. Lindholm tells this story with an objectivity that sometimes feels cold but that also gives “A Hijacking” dramatic credibility. Its power accumulates slowly and subtly, with the threat of violence hanging in the air and the hope of a solution hovering just over the horizon.
video review

11.6.13

But the main reason for the drop in maritime hijackings seems to be that ships are now far better defended against attacks. Armed guards, now carried by more than 60% of vessels, have been essential in discouraging them. Pirates are playing it safe by first scouting for guards, whereas previously they opened fire to intimidate crews; seeing arms on board is a big deterrent. Higher cruising speeds in pirate-infested zones and rerouting also have helped, as have razor wire, high-pressure hoses and citadels—secure spaces on ships from which crews can call for reinforcements. (This makes it easier to come to the aid of ships under attack, because pirates can no longer use seafarers as human shields.) Navies patrolling the area, from EU task-forces to private motherships, are also co-operating better and acting more aggressively. more
Prosecuting more than 1,000 pirates and transferring them to Somali prisons, where conditions are grim, appeared to be having a preventive effect.
The number of active pirates is perhaps 3,000, so if you put a thousand behind bars, and 300-400 die every year at sea from hunger (or) drowning … you will quickly come down.
read

16.5.13

Ivan Glasenberg two years ago selected Tony Hayward to back the group’s
initial public offering: the Glencore chief executive sees the former BP chief executive as one of the
best in the oil industry.

. They share a lifestyle that involves
near-constant travel. Both had to work hard to climb the corporate
ladder..

The personal connection was evident Thursday at the maiden
annual meeting of Glencore Xstrata as an enlarged company in Zug, Switzerland,
with both men seeming at ease with their respective roles as chief executive
and interim chairman.

Yet few expect him to stay in the job for long. Genel, his
post-BP vehicle, is his primary focus these days: the company is now the
largest independent crude producer in Iraqi Kurdistan.

[May 16]

John Bond, a City veteran and former chairman of Xstrata, earlier surprised investors by announcing he had been voted out of the top job at the miner and trader at its first annual shareholders' meeting, which he then asked Tony Hayward, the former chief executive of BP to lead.

Bond, who had been expected to relinquish his role once a replacement was found, gave no explanation for the vote in Zug, Switzerland, which was presumably backed by Glencore executives who still own almost 25 percent of the company.

As interim chairman, Hayward, already senior independent director, is expected to lead the nominations committee which will pick a permanent replacement. The committee had until Thursday been chaired by Bond.

A new chairman is expected to be appointed by the end of the year, a second source with knowledge of the matter said.

For Hayward, who said he felt "demonized and vilified" over the 2010 Deepwater Horizon disaster, the appointment at Glencore is a return to the top at a major UK-listed resource firm.

[July 25 2010]Tony Hayward, the embattled chief executive of BP, has agreed to step down and be replaced by Robert Dudley, the company’s most senior American executive who is now in charge of BP’s operations in the Gulf of Mexico, according to a person close to the company’s board.

8.5.13

Iran's Revolutionary Guard Corps started a series of tactical exercises in the Persian Gulf and strategic Strait of Hormuz early Thursday, April 21
"It's the IRGC navy…that will be more provocative in their maneuvers and in their potential interaction with shipping," here

4.5.13

$20 billion will be spent drilling development wells for
deepwater projects through 2015. As many as 38 rigs are currently operating in
the deepwater Gulf, and another eight rigs that are under construction could
enter the market before the end of the year. Energy companies continue to work the region, oil production from
federal leases in the Gulf hit nearly 1.4 million barrels per day in February,
up from 1.3 million barrels the year before.
Oil and gas exploration companies can only do as much work as there are
rigs available. On the other hand, the
key for companies is that you don't want the rigs to idle out there because
they're still paying the day rates whether they're drilling or not.

2.5.13

"Notification
Westberg Management AG, on the procedure for declaration of abandonment of the
ship "M / S Chariot" IMD 8302882.

Mar 15, 2013 In order to complete the Article
59 of Law 30/92 of 26 November, on the Legal Regime of Public Administrations
and the Common Administrative Procedure, as amended by Law 4/99, and after
having tried at home notification declared WESTBERG MANAGEMENT AG, Majuro,
Marshall Islands and as recorded in the Register of Ships of Saint Vincent and
Grenadines, Marshall Islands, as the owner of the ship "Chariot" IMO:
8302882 initiation of proceedings for a declaration of abandonment is told the
following :

Once the period of notice of initiation of proceedings to
abandon ship "Chariot" reached port and the appointment of instructor
and secretary in ..."

[January 31 2012]

MOSCOW, January 31 (RIA Novosti)The Syrian Ambassador to Russia denied Western media reports that a Russian [SVG-flag] ship reportedly carrying weapons had docked in a Syrian port A ship suspected of carrying tons of munitions bound for Syria was freed to leave a port in Cyprus after changing its destination.
The Cypriot Foreign Ministry confirms a Russian ship suspected of supplying arms to the Assad regime in Syria had been released from port, after a brief detention by authorities.

The ship was forced to dock for refueling Tuesday at Limassol in western Cyprus, following bad weather.
Local media reported at least 35 tons of munitions and explosive material were onboard, with a Ministry of Foreign Affairs statement confirming customs officials had discovered four containers and a generator in the hold.

The statement added that the ship, identified as the Saint Vincent-flagged MV Chariot, also contained “a dangerous cargo.” The ship, which left the Russian port of St. Petersburg on December 9, has been refueled and will set sail when the rough weather in the eastern Mediterranean calms.

According to the Foreign Ministry statement, it was agreed that the ship would sail to an alternative location and not Syria, but details of the new destination have not been disclosed. The government of Cyprus, which is an European Union member, insisted the ship had not breached the terms of the EU ban on sending arms to Syria.
The statement also confirmed that port officials had not been able to check the entire cargo due to tight packing in the hold of the vessel. The Russian-owned ship that was briefly detained in Cyprus for carrying munitions to Syria a week ago, docked in the Turkish port of Alexandretta after first travelling to Syria, according to Turkish news reports. A TURKISH foreign ministry official stated that the Russian ship carrying arms to Syria anchored off Turkey’s port of Alexandretta on Saturday,

Turkish daily Today’s Zaman reported that Turkish officials said the Chariot, suspected of delivering munitions to Syria, had anchored off Turkey's coast,
Selcuk Unal, the Turkish foreign ministry official, said Turkish coast guard and customs officials would board the Chariot before allowing it to dock at the port of Alexandretta (Iskenderun).

Unal said the ship left the Syrian port of Tartus early on Saturday and reached Turkey later in the day.
He said the Chariot’s captain confirmed the ship had arrived from Syria. But it remained unclear what type of cargo, if any, the ship may have offloaded at Tartus.
On January 13, the US said it had sought clarifications from both Russia and Cyprus over the ship, which sources said contained a cargo of bullets.
here

16-03-2011
General cargo Chariot was attacked by pirates in 12 018N 066 143E on Mar 5 2011 at around 1940 LT, pirates used new tactics – there was a decoy attack by a white skiff, departing from mother-ship and attracting attention of vessel under attack, while real attacking skiff with 6 pirates approached vessel from stern port side, skiff was camouflage-painted. There were 4 armed guards on board, Russian Spetsnaz vets, after gunfire exchange pirates ceased attack and returned to mother ship, not dhow but apparently one of the highjacked ocean-going freighters, of more than 100 meters length, with two cranes. Chariot IMO 8302882, dwt 1302, built 1984, flag S-Vincent, owner Westberg S-Petersburg, Russia.

29.4.13

John
Fredriksen and daughter Kathrine Fredriksen was over 1 billion richer in the
past week [1Norwegian Krone equals 0.17 US Dollar]

Over the past two years the changing tide of the industry
has caused a collapse in crude freight rates. The Baltic Dirty Tanker Index,
which measures the cost to move oil across the sea, has sunk to around 638
recently from 1,077 in January 2010, even as the global economy has improved.

At the same time, the global tanker fleet hasn't adjusted to
the reduced haulage demand. This year, the total capacity of tankers in the
global fleet is likely to grow 4.6%, and next year tanker supply is expected to
rise 1.9%, according to a January-dated report from Clarkson Capital Markets.
That far surpasses Clarkson's projected demand growth of 2.3% for 2013 and 1.5%
for 2014.

"There is such an overhang with supply that to say that
freight rates will increase in the out years is premature

Frontline Ltd., which
operates a large fleet of very large crude tankers (VLCCs), will lose
$2.33/share this year in earnings and $2.09 next, the recent price of $1.93. Global Hunter has
an even worse view for the stock, with the price headed to 50 cents.

Nordic American Tankers Ltd., which operates a tanker fleet,
is expected to lose money this year and the next. The stock was recently
trading at $9.16.

The International Energy Agency forecasts that the US will
overtake Saudi Arabia and Russia as the world's top oil producer in seven years
and will become a net oil exporter around 2030.

U.S. crude oil exports doubled in February to a 13-year high
of 124,000 barrels per day (bpd), government data showed on April 29+, as
shipments of surplus shale crude to Canada gathered pace. Most of the exports have flowed from the
Bakken oil fields in North Dakota to plants in Canada's east, which lack
pipeline access to Alberta's oil sands and are dependent on foreign crude. The
exports have not generated significant domestic opposition, since Canada
remains a huge net exporter of oil to the United States, sending around 2.7
million bpd south from both conventional and growing tar sands production.

[April 9]Hire rates for very large crude carriers on the benchmark voyage between Saudi Arabia and Japan slipped 0.2 percent to 31.91 industry-standard Worldscale points. Costs declined 6.3 percent April 2. Each of the ships can hold 2 million barrels of oil.There are 87 tankers available in the gulf over the next 30 days. The global VLCC fleet’s total carrying capacity will rise 5.1 percent this year, above demand growth of 4.9 percent. Frontline Ltd.’s shares fell to the lowest since May 1999 in March and slumped 95 percent since the end of 2007. The stock slid 1.5 percent to 12.75 kroner by the close in Oslo trading April 2.VLCCs are losing $3,012 daily on the benchmark Saudi Arabia-to-Japan voyage, figures from the Baltic Exchange in London showed. That compared with a $29-a-day loss as of March 28.

[September 10, 2012]John Fredriksen bases his latest investments on the plunging prices of vessels rather than on economic and petroleum growth forecasts, which he says are too uncertain to be useful. At $535 million, the cost of a deep-water rig in Singapore yards is down 31 percent from its 2008 peak, and Chinese and South Korean shipbuilders are accepting new supertanker orders for about $80 million, half of what they cost at their high in 2007.“Basically, I’m a trader,” says Fredriksen, who rarely talks to the media. “I think as we are sitting here we are very close to the bottom of the market, and I like to be a buyer at the bottom. This is the game.”

[May 28'11]The Commodity Futures Trading Commission sued two traders and the companies they worked for, Arcadia Energy (Suisse) SA and its Parnon Energy Inc. affiliate, alleging that in 2008 they amassed and sold off a substantial position in physical crude oil to "manipulate future prices." The companies are controlled by John Fredriksen's Farahead Holdings, of Cyprus. The VTN Shipping group is actively involved in the multiple facets of chartering, ship management and ship owning.It is a wholly owned subsidiary of Farahead Holdings Limited forming part of a group of companies which includeFrontline, SeaDrill, Arcadia Petroleum and Golar LNG Ltd.The VTN Shipping Group has been incorporated in Cyprus since November 2006.Vessel's name: V8 Stealth Last updated: May 20, 2011Ex-name(s): Not Applicable IMO number: 9436018Flag: Marshall Island Call sign: V7SW7Port of Registry: MAJURO Summer DWT: 112871 MTType of vessel: Oil Tanker Built: Nov 23, 2009Type of hull: Double Hull Owner: MAYHEM CRUDE IncClass Society: American Bureau of Shipping Operator: NAVIG8 SHIPMANAGEMENT PTE LTD

18.4.13

A Chinese shipping firm is planning the country’s first
commercial voyage through the Northern Sea Route this summer. For China, the world’s No 2 economy after
the United States, the route would save time and money. The distance from
Shanghai to Hamburg is 5,200 kilometers shorter via the Arctic than via the
Suez Canal, Yang said.

China has been lobbying for permanent observer status on the
eight-member Arctic Council in a bid to gain influence. Norway will work towards admitting China
observer status in the Arctic Council “We want people to join our club. That
means they will not start another club”. Barth Eide is backed up by Minster
Bildt; “The Arctic Council should be the arena for Arctic issues”.

According to Chinese longer-term scenarios, 5 to 15 per cent
of China’s international trade, mostly container traffic, would use the route
by 2020. Ten per cent of China’s projected trade by 2020, for instance, would
be worth €526 billion. “If the route is constructively prepared ... then the
demand is there, it could be a huge number,”
in 2012 46 vessels sailed the Northern Sea Route, compared to 34
in 2011 and only four in 2010. The total cargo transported on the NSR in
2012 was 1 261 545 tons – a 53 percent increase from 2011, when 820 789 tons
was shipped on the route.

China and Iceland signed a free-trade agreement on April
15th, China’s first with any European nation. The more likely attraction for China is
access to improving shipping routes through the Arctic as that region warms due
to climate change.

USS Bataan Amphibious Ready Group, which deployed ahead of its original schedule in order to relieve units from the Kearsarge Amphibious Ready Group in the Mediterranean Sea. The US decision to provide $25 million in nonlethal military assistance to the rebels did not signal a deeper U.S. commitment to anti-Gadhafi forces whose makeup, objectives and motives are still not fully understood in Washington.

The aid, he said, is not high-end military equipment but rather a hodge-podge of things like uniforms and canteens.

“I’m not worried about our canteen technology falling into the wrong hands,” he joked.